Using Credit to Your Advantage

Although many of us don’t practice what we preach, most of us think of credit as something that is to be avoided wherever necessary, and which has a good chance of getting us into financial difficulty or at least causing us to pay lots and lots of interest to the banks and credit card companies. Although it does pay to be very cautious of credit, you should not necessarily be scared of using it, especially because it is pretty easy to use credit to your advantage, if you know what you are doing.

Here are some simple tips that can help you use credit more to your advantage:

Use Balance Transfers to Stop Paying Interest

If you have one or more credit cards and you’re paying an astronomical amount of interest on them, it’s time to look for a zero interest balance transfer card. If you are accepted for one of these cards, you can transfer your current credit card debts to it, and thus avoid paying interest for between 3 and 40 months! That translates to a lot more money left in your pocket each month!

Earn Interest

If you are able to find a low-interest rate, then taking out a loan and either investing it (if you know what you are doing), or placing it into a higher-interest savings account for a while, could actually make you money! But please remember that if you plan to invest, there is no guarantee that you will make any returns and you could end up losing money, so only ever consider this if you are really confident you know what you’re doing.

Use the Interest-Free Period for Emergencies

If you haven’t built up an emergency fund (and you certainly should), and a financial emergency strikes you down, instead of going to an extortionate payday lender or similar,  apply for a credit card that will allow you to make purchases immediately, and which has a payment free period like the RCS Credit Card does. That way, you can use the card to pay for whatever it is you need without accruing interest assuming you pay off the balance within the payment free period.

Collect Air Miles

Another advantage to using credit cards is that many of them offer air miles or other rewards to their customers. So, if you use your credit card to pay for everything from your daily coffees to your household bills, providing you pay off the balance in full at the end of each month, you could actually be making money or the equivalent in travel or discounts, anyway!

Improve Your Credit Score

One of the most important ways that using credit can be of advantage to you is by building up your credit score. For example, if you have never used credit before, your credit score is not likely to be great because you are basically an unknown and lenders simply have no idea as to how well you will be able to manage your credit, so there’s a good chance many will turn you down. By taking out a credit card or loan designed for people with poor credit, and then using it responsibly, you can start to build up a credit history and improve your score, making it easier for you to get bank loans, mortgages and car finance in the future. The same applies to people who have a poor credit score through poor credit management in the past, but you do need to ensure that you use your new line of credit responsibly. You should also be careful not to use more than 25 percent of the credit available to you at any one time, as that could negatively affect your efforts.

Get Protection

If you’re making a big purchase, it pays to use a credit card to do so, not for the reason you might think; it saves you having to pay for it all in one go, but because you will be afforded an extra level of protection, making it easier to get your money back should anything go wrong with the purchase, and you be ripped off. If you do this, it’s still a good idea to pay off the full balance before interest starts accruing, though.

As you can see, there are numerous ways that credit can be used to your advantage. It’s just a matter of using it sensibly and avoiding the temptation to overspend or use the credit available to you in less than optimum ways.

Growing Your Finances Alongside Your Family

Running a family home is no mean feat. From morning times before school and work to putting everyone to bed at night, being a parent is truly a full-time job. Of course, most parents develop their own little tricks along the way, making jobs easier one by one. There are some areas which are a little harder, though. Finance is possibly the biggest of these, causing untold trouble for millions of people. To help you out with this in your family life, this post will be exploring some of the ways you can make your finances grow alongside your family, taking away the pressure and stress from an already busy life.


The very first thing to consider when you’re thinking about money is your income. In a lot of cases, people never meet their true earning potential, and this is a shame. A simple decision like moving to a new role can make a huge difference to your income. Of course, though, you have to keep your eyes open to take advantage of things like this, keeping an eye on recruitment and job sites. Along with this, working hard and giving your work everything you have will go a long way to helping your salary go up.



Once you’ve got a good plan in place for your income, it’s time to start thinking about the money you keep hidden away, saved up for a rainy day. A lot of people start to think about their savings when it’s already far too late. With your family in the mix, it will be very hard to find extra money for the things you need, let alone to save up. You should start your savings long before you have kids if you can. This will enable you to build the right habits and knowledge to be successful throughout your child’s life.


Cutting Costs

When you’re trying to make money go further, trying to get more of it isn’t always the answer. For this part of this process, you’ll have to start thinking about the money you spend, along with the ways you can make it easier. Your mortgage, for example, can often be extended if you’ve been good with each repayment. A company like can help you with this. But, along with this, you’ll have to do plenty of research to find other methods to help you save money in life.


A Legacy

Finally, with the rest of your life balanced, you can start to think about building a legacy for your children to enjoy when you’ve gone. Houses, savings, and investments all play a big role in this. Along with these factors, though, you may also want to consider investing in some life insurance. Most of the money your children inherit when you pass will be taxable, making it expensive for them to accept it. Life insurance, on the other hand, doesn’t have this issue tied to it.

Hopefully, this post will inspire you to start working harder on the way your finances grow with your family. For a lot of people, life will only get more and more expensive until their kids leave home. So, it’s worth making sure you have the right tools to deal with it long before they ever hit the scene.

Ready, Set, Go! Stopping A Business Falling At The First Hurdle

Starting a new business is an exciting time in an entrepreneur’s life. Hopefully, everything goes well and the company will begin to make money. Sadly, the reality is it will be a bumpy ride before money starts coming through the door. The “What Percentage of Businesses Fail in their First Year?” post puts the figure at 20%. So, there is an 80% chance the business will survive, but the statistics are only for the first year. Within ten years, 96% of startups close the shutters. So, the question is, how does an owner not fall at the first hurdle?


Deal With Taxes

Startups need to lower their expenses – fact. And, because it takes a while to turn a profit, reducing costs can help keep a company in the black. Out of all the charges on the table, the tax is the most significant. Usually, tax contributions for SMEs can take up over 20% of the firm’s budget. The problem lies with businesses which don’t hire professional help. An article entitled “What can Maryland do If I owe taxes?” points out the dangers of doing it yourself. Due to their skill and experience, accountants are essential to the process. Hiring one costs money yet makes money in the long-term.


Increase Customer Base

The customers who kept you in business last month won’t do the same again. The reasons range from a lack of loyalty to companies needing to maintain a healthy influx of buyers. In simple term, consumers purchase products and services and spend money in the process. Although it may not be a fortune, it is often enough to keep an SME in business. The more customers who make a purchase, the more money a small firm is likely to make. Plus, an influx of new customers is an advertisers dream. Therefore, it increases the opportunity of alternative revenue streams.


Recruit Reliable Employees

Firstly, a company’s workers are the difference between success and failure. As they are the lifeblood of the organisation, they keep the business running. Logically, then, employees have to be productive and driven. More importantly, a recruitment mistake can cost a startup a fortune. Not only do you have to pay a worker off, but you also have to stump up for a recruit. And, the cost doesn’t even factor in the process of interviewing and paying recruitment agencies. A tip: look past their resume. Often, a person’s personality will tell you whether they’re a perfect fit.


Invest In Insurance

It’s tempting to see an insurance policy as a waste of time. For the most part, it’s money which never bears fruit. So, many small businesses decide not to invest in multiple coverage options. Unfortunately, when there is an issue, these companies are vulnerable. Insurance isn’t an ROI type of investment but a contingency plan. Should there be an issue, the policy will cover the costs. Seen as small firms don’t have a lot of cash flow, it can be the difference between staying open and shutting down.

If you’re ready, on your marks, get set, and go!